In April 2026, the GTI-Woodbased Panel (GTI-WBP) Index registered 46.6%, a decrease of 4.1 percentage points from the previous month. After a brief rebound, the index fell back below the 50% critical value, thus indicating that in the pilot countries, the overall business prosperity of wood-based panel industry represented by the index shrank from the previous month.

On the demand side: Overall demand for the pilot countries’ wood-based panels decreased slightly. This month, the new orders index came in at 49.2%, a drop of 4.3 percentage points from March, falling back into contraction territory below 50%. The export orders index edged up 0.8 percentage point to 45.5%, but remained in contraction. The data suggest that the decline in new orders was mainly driven by international markets. Positive signals emerged in April in the construction and real estate sectors of China, Brazil, Mexico, and Ecuador, which could help boost domestic demand for wood based panels. However, foreign trade in wood based panels for pilot countries was hampered by factors such as geopolitical conflicts, tariffs, and non tariff barriers. In addition, the existing orders index had remained below the 50% mark for eight consecutive months, indicating that total orders in hand for wood based panels were declining, putting significant pressure on business of the enterprises. 

On the supply side: The production index for wood-based panels stood at 47.3%, down 5.4 percentage points from March, returning to contraction territory and showing an overall pullback in production capacity. Looking at the past six months, total output of wood based panels had been on a downward trend in all months except for a slight uptick in March. The main reason is that companies had proactively reduced the capacity and aligned production with demand amid weak market conditions. The inventory index of finished products came in at 45.8%, remaining below the critical value for three consecutive months, indicating continued destocking of wood based panels.

From a price perspective: The purchase price index for raw materials stood at 70.2%, up 5.8 percentage points from March and remaining above the critical value for a long time, signaling that the prices of logs and other related production materials continued to rise with April posting a significant increase. Data show that this month, increase in the purchase price was particularly notable in Gabon, Brazil, and China. At the same time, companies also faced considerable cost pressures from labor, energy, transportation, and taxes.

Main updates related to the wood-based panel market include: Currently, Chinese fiberboard manufacturers are heavily concentrated in medium  and high density fiberboard products, and amid homogenized competition, a low price strategy remains the primary approach for most Chinese companies to expand overseas markets. News from GTI-Indonesia Focal Point shows that the Indonesian plywood exports saw a slight increase in April compared to March, partly supported by sustained demand from several Asian markets, particularly for standard plywood products used in the construction and interior sectors. Data from Thai Furniture Association reveals that in Q1 2026, Thailand’s medium-density fiberboard exports totaled US$178 million and particleboard exports reached US$107 million, representing a year-on-year decline of 24.15% and 19.15% respectively.

GTI-Woodbased Panel (GTI-WBP) Report - April 2026.pdf